NEW YORK - HUDBAY MINERALS of Winnipeg is making plans to reopen the Balmat No.4 zinc mine in upper New York State. It will be operated by St. Lawrence Zinc Co., a HudBay subsidiary. At full production the mine will produce 60,000 tons of zinc in concentrate per year. The concentrate will be shipped to CEZINC in Valleyfield, Quebec, for treatment.
The mine was closed by former owner St. Joe Minerals in 2001 after mining 30 million tonnes of ore. The Balmat mine includes a 3,200-ft-deep shaft, underground development to five ore zones and extensive mining equipment as well as a 5,000-ton/day concentrator. HudBay also owns approximately 52,000 acres of exploration land in
the Balmat district.
HudBay has recalculated reserves and resources based on using high-grade selective mining methods. The mineral reserves are estimated at 1.86 million tons at 11.2% Zn, and mineral resources stand at 1.39 million tons at 12.9% Zn. Operating costs over the eight-year life of the mine are projected to be US$0.48/lb of zinc. HudBay says the capital cost of reopening the Balmat mine will be US$20 million with first ore production expected next April or May.
The HudBay website is at www.HudBayMinerals.com.
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